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BumRushDaShow

(166,323 posts) Fri Jan 9, 2026, 08:55 PM Jan 9

Trump calls for one year cap on credit card interest rates at 10% [View all]

Source: Yahoo! Finance/Reuters

Fri, January 9, 2026 at 8:47 p.m. EST 1 min read

WASHINGTON, Jan 9 (Reuters) - U.S. President Donald Trump said on Friday he was calling for a one-year cap on ‌credit card interest rates at 10% starting January 20 but he ‌did not provide details on how he planned to make companies comply. Trump also made the pledge during the campaign for the 2024 elections that he won.

There have been some ⁠legislative efforts in ‌Congress to pursue such a proposal but they are yet to become law. Democratic lawmakers have ‍criticized Trump, a Republican, for not having delivered on that campaign pledge.

"Effective January 20, 2026, I, as President of the United States, am calling for a one year cap ‌on Credit Card Interest Rates of 10%," Trump wrote on Truth Social, without providing more details. "Please be informed that we will no longer let the American Public be 'ripped off' by Credit Card Companies," Trump added.

The White House ⁠did not immediately respond to a request for comment on details of the call from Trump, but said on social media that the president was capping ‍the rates.

Read more: https://ca.finance.yahoo.com/news/trump-calls-one-cap-credit-014715119.html

Got a breaking banner on this. He may go all night just rambling.

37 replies

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Trump calls for one year cap on credit card interest rates at 10% [View all] BumRushDaShow Jan 9 OP

Sign over the bar "free beer tomorrow" Klarkashton Jan 9 #1

He's just trying to increase the repuglican pac donations from the credit card carriers. It will never pass. mdbl Jan 9 #2

He been floating an answer to every gripe. Klarkashton Jan 9 #4

One of our local trolls is going to be very concerned about why "We Dems" didn't think of this first Prairie Gates Jan 9 #21

Republicans hated Joe Biden's student loan programs bucolic_frolic Jan 9 #3

if this actually takes effect moonshinegnomie Jan 9 #5

"considering"... Trump doesn't. Norrrm Jan 9 #7

Wrong! Multichromatic Jan 10 #23

I wonder how many millions will then lose their credit card accounts.... Mark.b2 Jan 9 #6

my guess is most of them moonshinegnomie Jan 9 #9

Good points.... Mark.b2 Jan 9 #12

What's past is prologue Multichromatic Jan 10 #24

What has happened since the Raygun '80s, was banking deregulation BumRushDaShow Jan 10 #25

the will just wholesalfe cancel credit cards moonshinegnomie Jan 10 #31

I don't know that a US President has the power to do that. 70sEraVet Jan 9 #8

that requires congress moonshinegnomie Jan 9 #10

I'm sure you're right about that. 70sEraVet Jan 9 #11

The little people can't take advantage of tax deductions. They are taking the standard deduction and getting money... Ol Janx Spirit Jan 9 #15

Before the mid-terms, Trump will promise us all a new car and a Trump phone. RedWhiteBlueIsRacist Jan 9 #13

Trump then called for a Chihuahua in every pot Bristlecone Jan 9 #14

This is what he does: he says it--expecting credit for it. And it is probably true more often than not... Ol Janx Spirit Jan 9 #16

These are useless things just meant to get some headlines JI7 Jan 9 #17

He spews a firehose of crazy every day tonekat Jan 9 #18

More smoke & mirrors - epstein,epstein,epstein Nigrum Cattus Jan 9 #19

The Age of BIG GOVERNMENT, I guess Prairie Gates Jan 9 #20

The credit card companies would have to agree to do that and they won't. SunSeeker Jan 10 #22

Credit Card Companies would have to cancel some people's cards................. Lovie777 Jan 10 #26

Credit limits will plummet wolfie001 Jan 10 #29

Sounds like he is in panic mode over the economy. Raven123 Jan 10 #27

More socialism by the fat orange imbecile wolfie001 Jan 10 #28

Hey while we're spouting populist pablum why not raise the minimum wage by ten percent for a year or until after the... Hugin Jan 10 #30

Desperado Don's Full-of-Shit Proclamations are oasis Jan 10 #32

Thanks for posting this. RoseTrellis Jan 10 #33

Alright, whose check didn't clear? Chase? Discover, this your fault? flvegan Jan 10 #34

This is a silly 1 year tiny bandaid proposal. delisen Jan 10 #35

I had to get a new CC because my airline card switched from Barclays to Citi. The switch will be automatic sometime Raftergirl Jan 11 #36

I never use a credit card any more, just a debit card when I need to order something online. CTyankee Jan 11 #37